You need to meet the original use or substantial improvement requirement for the single family home. You can't just buy the single family home and rent it out.
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How can I buy a single family home in an Opportunity Zone and use it as a rental home business?
I am trying to purchase a single family home (not primary residence) and use it as a rental home business. Is it as easy as going to the specific state’s opportunity zone website and confirming on Zillow that the lot address is within a census tract deemed zone and then that would qualify? Assuming I create the entity and maintain all the necessary benchmarks along the way?
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There are several websites that allow you to just enter the property's address, and you'll see if it's in a census tract that is an Opportunity Zone (you don't even need to confirm it on Zillow).
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